TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada and internationally.
Second-rate dividend payer and slightly overvalued.
Share Price & News
How has TMX Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TMXX.F has not had significant price volatility in the past 3 months.
7 Day Return
US Capital Markets
1 Year Return
US Capital Markets
Return vs Industry: TMXX.F exceeded the US Capital Markets industry which returned 8.9% over the past year.
Return vs Market: TMXX.F exceeded the US Market which returned 10.2% over the past year.
Price Volatility Vs. Market
How volatile is TMX Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is TMX Group undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: TMXX.F ($88.28) is trading above our estimate of fair value ($78.47)
Significantly Below Fair Value: TMXX.F is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: TMXX.F is good value based on its PE Ratio (25.9x) compared to the Capital Markets industry average (31.8x).
PE vs Market: TMXX.F is poor value based on its PE Ratio (25.9x) compared to the US market (17.1x).
Price to Earnings Growth Ratio
PEG Ratio: TMXX.F is poor value based on its PEG Ratio (2.5x)
Price to Book Ratio
PB vs Industry: TMXX.F is good value based on its PB Ratio (1.8x) compared to the US Capital Markets industry average (6.6x).
How is TMX Group forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TMXX.F's forecast earnings growth (10.4% per year) is above the savings rate (1.7%).
Earnings vs Market: TMXX.F's earnings (10.4% per year) are forecast to grow slower than the US market (13.2% per year).
High Growth Earnings: TMXX.F's earnings are forecast to grow, but not significantly.
Revenue vs Market: TMXX.F's revenue is expected to decline over the next 3 years (-10.4% per year).
High Growth Revenue: TMXX.F's revenue is forecast to decline over the next 3 years (-10.4% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TMXX.F's Return on Equity is forecast to be low in 3 years time (8.5%).
How has TMX Group performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TMXX.F has high quality earnings.
Growing Profit Margin: TMXX.F's current net profit margins (21.3%) are lower than last year (27.8%).
Past Earnings Growth Analysis
Earnings Trend: TMXX.F's earnings have grown significantly by 30.9% per year over the past 5 years.
Accelerating Growth: TMXX.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: TMXX.F had negative earnings growth (-13.4%) over the past year, making it difficult to compare to the Capital Markets industry average (8.4%).
Return on Equity
High ROE: TMXX.F's Return on Equity (7.1%) is considered low.
Return on Assets
Return on Capital Employed
How is TMX Group's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: TMXX.F has a low level of unsold assets or inventory.
Debt Coverage by Assets: TMXX.F's debt is covered by short term assets (assets are 27.2x debt).
Financial Institutions Analysis
Asset Level: TMXX.F's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if TMXX.F has a sufficient allowance for bad loans.
Low Risk Liabilities: TMXX.F reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if TMXX.F has an acceptable proportion of non-loan assets held.
Low Risk Deposits: TMXX.F has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if TMXX.F has an appropriate level of bad loans.
What is TMX Group's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: TMXX.F's dividend (2.31%) is higher than the bottom 25% of dividend payers in the US market (1.53%).
High Dividend: TMXX.F's dividend (2.31%) is low compared to the top 25% of dividend payers in the US market (3.96%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, TMXX.F has been paying a dividend for less than 10 years.
Growing Dividend: TMXX.F's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (57%), TMXX.F's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TMXX.F's dividends in 3 years are forecast to be covered by earnings (50.1% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
John McKenzie 0
Mr. John McKenzie has been the Chief Financial Officer of TMX Group Limited since July 11, 2016 and serves as its Senior Vice President and Interim Chief Executive Officer. Mr. McKenzie served as Vice Pres ...
CEO Compensation Analysis
Compensation vs Market: John's total compensation ($USD1.24M) is below average for companies of similar size in the US market ($USD6.51M).
Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.
|Senior VP||0yrs||CA$1.65m||0.0048% CA$227.1k|
|President of CDCC & CDS and Chief Technology & Operations Officer||1.7yrs||CA$1.87m||0.0014% CA$67.8k|
|Sr. VP, Group Head-Legal & Business Affairs||4.9yrs||CA$1.02m||0.00040% CA$19.0k|
|President and CEO of the Montréal Exchange (MX) & Global Head of Trading||2.1yrs||CA$1.19m||0.00041% CA$19.4k|
|Vice President of Corporate Finance and Administration||0yrs||no data||no data|
|Director of Investor Relations||0yrs||no data||no data|
|Senior Vice President of Marketing and Branding||3yrs||no data||no data|
|Chief Marketing Officer & Head of Digital Solutions||1.3yrs||no data||no data|
|Senior VP & Group Head of Human Resources||8.1yrs||no data||0.0077% CA$363.7k|
|Chief Client Officer||3.8yrs||no data||0.0050% CA$239.5k|
Experienced Management: TMXX.F's management team is considered experienced (3 years average tenure).
|Independent Director||7.6yrs||CA$135.00k||no data|
|Independent Director||7.6yrs||CA$136.00k||no data|
|Independent Director||7.6yrs||CA$202.00k||no data|
|Chairman of the Board||7.6yrs||CA$300.00k||no data|
|Corporate Director||8.8yrs||CA$146.50k||0.0036% CA$168.8k|
|Corporate Director||7.6yrs||CA$136.00k||0.00030% CA$14.2k|
|Corporate Director||7.6yrs||CA$141.00k||no data|
|Chairman of the Canadian Depository for Securities Limited||10.1yrs||no data||no data|
Experienced Board: TMXX.F's board of directors are considered experienced (7.6 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
TMX Group Limited's company bio, employee growth, exchange listings and data sources
- Name: TMX Group Limited
- Ticker: TMXX.F
- Exchange: OTCPK
- Founded: 2011
- Industry: Financial Exchanges and Data
- Sector: Diversified Financials
- Market Cap: CA$6.336b
- Listing Market Cap: CA$4.742b
- Shares outstanding: 56.26m
- Website: https://www.tmx.com
Number of Employees
- TMX Group Limited
- 300-100 Adelaide Street West
- M5H 1S3
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|X||TSX (The Toronto Stock Exchange)||Yes||Common Shares||CA||CAD||Sep 2012|
|9TX||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Sep 2012|
|TMXX.F||OTCPK (Pink Sheets LLC)||Yes||Common Shares||US||USD||Sep 2012|
TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada and internationally. The company operates through four segments: Global Solutions, Insights & Analytics; Capital Formation; Derivatives Trading & Clearing; and Equities and Fixed Income Trading and Clearing. The Global Solutions, Insights & Analytics segment delivers integrated data sets to fuel proprietary and third party analytics for trading and investment decisions. The Capital Formation segment facilitates capital raising for issuers for the development and access to alternative source of capital. The Derivatives Trading & Clearing segment trades in interest rate, index, and equity derivatives. The Equities and Fixed Income Trading and Clearing segment engages in the provision of equities and fixed income trading, clearing, settlement, and depository services. The company was formerly known as Maple Group Acquisition Corporation and changed its name to TMX Group Limited in August 2012. TMX Group Limited was incorporated in 2011 and is based in Toronto, Canada.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/28 01:20|
|End of Day Share Price||2020/02/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.